1. Field of the Invention
The present invention is directed to a method, device, and computer readable storage medium for taking wagers from players. More particularly, the invention relates to wagering on a progression, such as a simulated horse race, both before and during the progression.
2. Description of the Related Art
Wagering methods and devices come in all forms. Many prior art methods have been devised for betting on both real and a simulated horserace. Such prior art methods have many limitations in their enjoyment and effectiveness as wagering devices.
One such limitation of prior art devices is that all bets must be placed prior to the race beginning, and once the race starts all bets are closed. Of course, this is logical because if a player could place a bet during a horserace, he would no doubt bet on the horse that was about to win. However, this limitation results in less excitement for the bettors, as once the race starts they are limited to passively watching the race. Other limitations of the prior art also discourage such games to be used in casino environments, in part due to there being no ideal way for the house to gain an advantage.
A casino horseracing game has been developed using mechanical horses, however this game has numerous disadvantages. As described above, this game can only allow wagers before the racing has begun.
Therefore, what is needed is a way where wagers can be placed during, and not only before, a horserace or any other type of challenge. What is also needed is a way for a casino or betting parlor to take such wagers while making the wagers more attractive to players who dislike the inconvenience of having to pay a house commission on every bet won.